Experts say digital payments crucial to mfb growth, innovation
Leaders and experts in the financial technology sub-sector have said digital payments hold the key to the success and stay of Nigeria microfinance banking sector of the country’s economy.
The experts spoke at Africa’s leading integrated payments and digital commerce company, Interswitch TechConnect event held in Port-Harcourt where they explored the transformative impact of digital payments in the microfinance sector.
Keynote speaker and Group Head, Financial Services Business, Digital Infrastructure & Managed Services (Interswitch Systegra) Tyoyila Aga emphasized the pivotal roles latest trends in digital payment solutions, such as mobile wallets, QR codes, and contactless payments play in shaping the future landscape of microfinance banking.
Aga noted that digital payments innovation is big for the microfinance sector as it comes with opportunities for growth, and ultimately, financial inclusion, hence the reason Interswitch is at the forefront of driving the growth of digital payments across the country and beyond.
He said, “We are excited to have come this far in propagating the good news around what digital payment innovation holds for our microfinance sector. At Interswitch, we are all about innovation and as a company committed to driving the digital transformation of Nigeria’s financial services, we are proud to play a leading role in shaping the future of microfinance banking.”
Attendees who spoke to our correspondent said they gained valuable insights into the technological advancements that are revolutionizing financial services and the potential these innovations hold for financial inclusion and economic empowerment.
The event also featured panel discussions, where industry leaders engaged in conversations on different strategies for growth in the microfinance sector, sharing their perspectives on leveraging digital technologies to drive growth in the financial sector.
The discussion covered topics ranging from cybersecurity and regulatory compliance to the integration of emerging technologies, providing attendees with a comprehensive understanding of the multifaceted aspects of digital transformation.
